You should be wondering what the ‘Oops’ candlestick patterns you are talking about in the title are. When traders know they are on the wrong side of the market and finally say to themselves ‘Yes, I’m in the wrong trade’, ‘Uops’ patterns appear and they quickly leave the trade and go in the opposite direction.
The above is the psychology of the trader and you can learn them from your schedule.
Below are some of the Uops candlestick examples you are looking for to help you at the entrance and exit.
1) Railway (Tweezers) – You will see 2 long candles of different colors for this pattern. The first candlestick is formed by traders who follow the market to raise it, and the second counter candlestick, which is similar in length, occurs when most traders decide to quit and trade after knowing they are on the wrong side of the market. the opposite direction.
2) Doji Morning / Evening Star – You will see a long doji for the evening doji star, then a long low candle and the opposite for the morning doji star. These 2 patterns are also known as ‘Oops’ patterns because they are good conversion patterns.
3) hammer / reverse hammer – Hammers and reverse hammers also come from Uops psychology. For hammers and reverse hammers, it shows that traders respond very quickly, and therefore a single turning candle is visible.
The above is one of the best returnable candlestick examples you should pay attention to when trading. If you go LONG, you should get out of your position after seeing one of these 3 patterns and vice versa.